A blockchain is a growing list of records, called blocks, which are linked
together using cryptography. Each block contains a cryptographic hash of the previous
block, a timestamp, and transaction data. It is a decentralized, distributed and public
digital ledger that is used to record transactions across many computers called nodes.
Blockchain, in collaboration with the technologies like Artificial Intelligence, the
Internet of Things, Big data, etc., provides more effective outcomes by minimizing
manpower with an increase in its feasibility. IoT is all about expanding the power of
the internet beyond computers and smartphones to a whole range of other things,
processes, and environments. Our day-to-day life can be made interesting with the
applications of IoT-enabled devices in the home, agriculture, logistics, industries,
healthcare sectors, and so on. They can be combined with the disciplines like data
collection, management of huge data, storage of data, data analytics, etc. These IoT
devices are embedded with sensors that are vulnerable to hackers and malware. At
present, we cannot give complete assurance of the security of the access and data
associated with the devices as it is possible for an intruder to misuse or mishandle the
scheduled process. But, in association with blockchain technology, we can acquire
solutions for problems related to security.
Keywords: Application, Authenticity, Blockchain, Banking sector, Consensus,
Corda, Crypto-currency, Cryptography, Distributed, Ether, Ethereum, Egovernance,
Hashing, Healthcare, IoT, Platforms, Proof of work and stack,
Security, Smart contract, Smart city.